Established in 1955 after uranium was discovered in the area, Elliot Lake became a booming mining town with a population of 20,000. In the late 1980s, with the Cold War over and interest flagging in uranium, the mines began to close. Over 4,500 layoffs devastated the City. Instead of accepting defeat, the city managed to band together, and create a new primary industry - residents.

Vacant homes were marketed and sold or rented to retirees, who've been retiring in Elliot Lake since the early 1990s. Due to retirement living, cottaging, tourism and some entrepreneurial business people, the City of Elliot Lake has rebounded and is managing to maintain the infrastructure that was designed for a booming mining community and the population has stabilized at approximately 10,000.